XRP Price Declines Below $2.60 Amid Resistance at $2.50
XRP Price Update
- XRP price declined after failing to surpass $2.80.
- Current trading level is below $2.60 and the 100-hourly Simple Moving Average.
- A bearish trend line is forming with resistance at $2.50.
- The price might rise if it clears the $2.60 resistance area.
XRP attempted a recovery above the $2.20 support zone but peaked at $2.780 before declining. The price has tested the 50% Fibonacci retracement level from the recent low of $1.750 to the high of $2.780.
- Major resistance levels are at $2.60 and $2.70.
- If the price breaks above $2.70, it could target $2.80 and potentially $3.00.
- Initial support is near $2.260; next support at $2.1450 (61.8% Fib retracement).
- A drop below $2.1450 may lead to a further decline towards $2.00.
Technical indicators show a bearish MACD and an RSI below 50.